Thursday, September 29, 2016

Real gross domestic product increased at an annual rate of 1.4 percent in the second quarter of 2016
(table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the first
quarter, real GDP increased 0.8 percent.

The GDP estimate released today is based on more complete source data than were available for the
"second" estimate issued last month. In the second estimate, the increase in real GDP was 1.1 percent.
With the third estimate for the second quarter, the general picture of economic growth remains the
same. The most notable change from the second to third estimate is that nonresidential fixed
investment increased in the second quarter; in the previous estimate, nonresidential fixed investment
decreased ...emphasis added

Here is a Comparison of Second and Advance Estimates. PCE growth was revised down from 4.4% to 4.3%. (Solid PCE). Non-Residential investment was revised up from -0.9% to +1.0%. This was close to the consensus forecast.